[PRNewswire] Nordstrom, Inc. (NYSE:JWN) (TREND ANALYSIS) opened the doors to its new store at Rideau Centre in Ottawa, Ontario today, the company’s second international location. The 157,000 square-foot store offers customers five shoe departments, a bistro-style restaurant called Bazille, an espresso bar, expansive cosmetics and accessories areas and a comprehensive offering of popular brand names for women, men and children.
“We feel so fortunate to have this opportunity to serve Ottawan customers closer to home at our first location in eastern Canada,” said John Banks, Nordstrom Rideau Centre store manager. “We know our success depends on providing customers with a great shopping experience, and we’re going to do everything we can to best serve them.”
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JWN reported last quarter earnings on February 19. The Department Stores company announced earning per share of $1.32 against a consensus Street estimate of $1.35, missing estimate by $0.03. This corresponds to an increase of $0.69 compared to the same quarter of the previous fiscal year.
Nordstrom, Inc. (NYSE:JWN) is currently trading 0.87% below its 52-week-high, 35.12% above its 52-week-low. The 12-months range for the stock is $59.97 – $81.78. Nordstrom, Inc. (JWN) has a price to earnings ratio of 21.68 versus S&P 500 average of 17.55. JWN stock price has underperformed the S&P 500 by 0.3%. The Department Stores company is currently valued at $15.39 billion and its share price closed the last trading session at $80.65. The stock has a 50-day moving average of $78.71 and a 200-day moving average of $74.06.
Nordstrom, Inc. (JWN) current short interest stands at 4.25 millions shares. It has decreased by 15% from the same period of last month. Around 4% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.22 millions shares, the number of days required to cover the short positions stand at 3.5 days.
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There are currently thirty-one analysts that cover JWN stock. Of those thirty-one, nine have a Buy rating, nineteen have a Hold rating and three have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $77.21.
A recent analyst activity consisted of Barclays downgrading their Equal Weight rating to Underweight on February 17. Barclays fixed their price target at $68. This corresponds to a 15.69% downside from the last closing price. On the date of report, the stock closed at $78.54.
Telsey Advisory Group reiterated their Market Perform stance on February 22, and decreased their price target from $84 to $79. This corresponds to a 2.05% downside from the last closing price.
A third research firm was Topeka Capital Markets who reiterated their Buy stance on December 15. Topeka Capital Markets increased their price target on Nordstrom from $82 to $85. This translates to a 5.39% upside from the last closing price. On the date of report, the stock closed at $75.08.
Company profile
Nordstrom, Inc., a fashion specialty retailer, offers apparel, shoes, cosmetics, and accessories for women, men, and children in the United States. It operates in two segments, Retail and Credit. The Retail segment offers a selection of brand name and private label merchandise. This segment sells its products through various channels; online private sale subsidiary, HauteLook, Inc, as well as online store, Nordstrom.com; and catalog sale. As of October 29, 2014, this segment operated 289 stores, including 118 full-line stores, 167 Nordstrom Racks, 2 Jeffrey boutiques, and 1 clearance store in 38 states. The Credit segment operates Nordstrom fsb, a federal savings bank, which provides a private label credit card, two Nordstrom VISA credit cards, and a debit card. Its credit and debit cards feature a shopping-based loyalty program. Nordstrom, Inc. was founded in 1901 and is based in Seattle, Washington.
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